Mortgage Rate Trend Index

Will rates go up, down or remain unchanged?

This week should see the daily tech finish its bearish (lower prices, higher yields and rates) cycle and then become bullish. Let's call this week neutral with expectation that the following week should see a move to slightly lower yields and rates.

With the 10-year Treasury trading at 3.51 percent and up considerably from just a couple of weeks ago, all the disruptions from Africa and the Middle East have now been digested and the market is focusing on job creation and improvement in unemployment. The market is desperate and will continue to focus on any good news it can find -- despite any bad news it sees. Inflation, of course, will be a key factor going forward as will expectations of oil and food prices.

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